nVerses Capital LLC Purchases Shares of 8,500 Raymond James (NYSE:RJF)

nVerses Capital LLC acquired a new position in shares of Raymond James (NYSE:RJF) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,500 shares of the financial services provider’s stock, valued at approximately $1,041,000. Raymond James makes up approximately 0.5% of nVerses Capital LLC’s investment portfolio, making the stock its 23rd largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of RJF. Wolff Wiese Magana LLC grew its holdings in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after buying an additional 198 shares in the last quarter. Quarry LP bought a new stake in shares of Raymond James in the 2nd quarter worth $29,000. Smithfield Trust Co raised its holdings in shares of Raymond James by 105.0% in the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 126 shares during the last quarter. Covestor Ltd lifted its position in shares of Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 104 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Raymond James during the third quarter valued at about $32,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RJF has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Jefferies Financial Group increased their price target on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. JMP Securities upgraded Raymond James from a “market perform” rating to a “market outperform” rating and set a $146.00 price target on the stock in a report on Wednesday, October 9th. Wells Fargo & Company upped their price objective on Raymond James from $138.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, UBS Group lowered their target price on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $133.36.

Insider Buying and Selling at Raymond James

In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the transaction, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at $8,692,390. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the sale, the executive vice president now directly owns 75,586 shares in the company, valued at $8,692,390. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the transaction, the chief executive officer now owns 35,380 shares of the company’s stock, valued at $3,879,063.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Raymond James Stock Performance

Shares of NYSE RJF traded up $0.89 during trading on Thursday, reaching $137.02. 200,600 shares of the stock traded hands, compared to its average volume of 1,110,488. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The stock has a market capitalization of $28.22 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 0.88 and a beta of 1.02. Raymond James has a 52-week low of $91.67 and a 52-week high of $137.58. The company has a 50-day moving average of $120.38 and a 200-day moving average of $120.76.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, beating the consensus estimate of $2.31 by $0.08. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.85 earnings per share. Analysts forecast that Raymond James will post 9.57 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.31%. The ex-dividend date was Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is presently 20.29%.

About Raymond James

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.